System and method for financial risk assessment

Abstract

A computer-implemented method and system for financial risk assessment are provided. The method includes receiving financial data related to an international monetary transaction from a transferring country to a receiving country; determining a universal currency for the receiving country based on at least one purchasing power parity (PPP) value related to the receiving country; and assessing the financial risk of the international monetary transaction based on the universal currency and the financial data.

What is claimed is: 
     
         1 . A computer-implemented method for financial risk assessment comprising:
 receiving financial data related to an international monetary transaction from a transferring country to a receiving country;   determining a universal currency for the receiving country based on at least one purchasing power parity (PPP) value related to the receiving country; and   assessing the financial risk of the international monetary transaction based on the universal currency and the financial data.   
     
     
         2 . The method of  claim 1 , wherein assessing the financial risk of the international monetary transaction is according to a predefined rule. 
     
     
         3 . The method of  claim 1 , further comprising:
 determining a universal value related to an amount of money involved in the international monetary transaction based on the universal currency, the universal value is defined in universal currency units; and   issuing an alert indicating that the international monetary transaction is a potentially risky transaction if the universal value is above a threshold value.   
     
     
         4 . The method of  claim 1 , wherein the universal currency is based on two or more PPP values related to the receiving country and the method further comprises:
 receiving monetary weights, each associated with one of the PPP values; and   calculating the universal currency based on the PPP values and the monetary weights.   
     
     
         5 . The method of  claim 1 , wherein the universal currency is based on two or more PPP values related to the receiving country and the method further comprises:
 determining monetary weights, each associated with one of the PPP values; and   calculating the universal currency based on the PPP values and the weights.   
     
     
         6 . The method of  claim 1 , wherein the financial data is received from a financial institution. 
     
     
         7 . The method of  claim 1 , wherein assessing the financial risk is done during the international monetary transaction. 
     
     
         8 . A system for assessing a financial risk comprising:
 a processor configured to:
 receive financial data related to an international monetary transaction from a transferring country to a receiving country; 
 determine a universal currency for the receiving country based on at least one purchasing power parity (PPP) value related to the receiving country; and 
 assess the financial risk of the international monetary transaction based on the universal currency and the financial data; 
 and 
   a memory configured to store instructions associated with assessment of the financial risk of the international monetary transactions.   
     
     
         9 . The system of  claim 8 , further comprising: at least one storage unit for storing the at least one PPP value. 
     
     
         10 . The system of  claim 8 , wherein the financial risk of the international monetary transaction is assessed according to at least one rule stored in the memory. 
     
     
         11 . The system of  claim 8 , wherein the processor is further configured to determine a universal value related to an amount of money involved in the international monetary transaction, the universal value is defined in universal currency units and to issue an alert indicating that the international monetary transaction is a potentially risky transaction if the universal value is above a threshold value. 
     
     
         12 . An article comprising a non-transitory computer-readable storage medium, having instructions stored thereon that when executed by a processor, cause the processor to:
 receive financial data related to an international monetary transaction from a transferring country to a receiving country;   determine a universal currency for the receiving country based on at least one purchasing power parity (PPP) value related to the receiving country; and   assess the financial risk of the international monetary transaction based on the universal currency and the financial data.   
     
     
         13 . The article of  claim 12 , wherein the instructions when executed further cause the processor to:
 determine a universal value related to an amount of money involved in the international monetary transaction, the universal value is defined in universal currency units; and   issue an alert indicating that the international monetary transaction is a potentially risky transaction if the universal value is above a threshold value.   
     
     
         14 . The article of  claim 11 , wherein the universal currency is based on two or more PPP values related to the receiving country and the instructions when executed further cause the processor to:
 receive monetary weights, each associated with one of the PPP values; and   calculate the universal currency based on the PPP values and the monetary weights.   
     
     
         15 . The article of  claim 11 , wherein the universal currency is based on two or more PPP values related to the receiving country and the instructions when executed further cause the processor to:
 determine monetary weights, each associated with one of the PPP values; and   calculate the universal currency based on the PPP values and the monetary weights.